Housing markets around the country are beginning to show signs of recovery. But for certain cities continuing to deal with the aftermath of the recession, recovery is not yet in the picture.
This week, NBC’s Bottomline reported that five of the nation’s “sickest” housing markets are still struggling from “weak demand, high foreclosure rates and negative equity.” In two of these “sick” markets, Riverside-San Bernardino and San Diego, Calif., rental markets are also struggling. In San Diego, rental vacancies are at 8.6 percent. And it’s worse in Riverside, with a 9.4 percent vacancy rate.
Here’s a look at what’s renting this week in those two under-the-weather markets:
Riverside-San Bernardino, Calif.
A one bedroom on Tripoli Street is renting for $950/month
- Located in the Highland Parc Complex
- Three minute walk to the UCR campus
- Unit was recently renovated and is 725 sq. feet
San Diego, Calif.
A one bedroom is renting for $1250/month
- Located one block from Boardwalk
- Unit Features a skylight
- Features a completely remodeled kitchen